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2024-12-31-accounts

DEEPING ST JAMES UNITED CHARITIES

CHARITY COMMISSION REGISTERED NO. 248848

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 DECEMBER 2024

DEEPING ST JAMES UNITED CHARITIES

Contents

Page
Charity Reference And Administrative Details 1
Trustees' Annual Report 2 to 5
Independent Auditor's Report 6 to 9
Statement of Financial Activities 10
Statement of Financial Position 11
Notes to the Financial Statements 12 to 22

DEEPING ST JAMES UNITED CHARITIES Charity Reference and Administrative Details for the year ended 31st December 2024

Charity registration number

248848

Board of Trustees

Dr R Gamman (Chair - Appointed January 2025) Mr G Thompson (Chair - Resigned May 2025) Mr S Goodchild Mrs K Shinkins-Hoppe Mrs J Stevens Revd M Williams

Mrs E Robinson (Appointed January 2025) Mr I Anderson (Appointed January 2025) Mrs D Dent (Appointed January 2025) Mrs C Precey (Resigned January 2025) Mr T Harwood (Resigned January 2025) Mr P Ward (Resigned January 2024) Ms E Prissick (Resigned May 2024)

Charity Address

The Institute 38 Church Street Deeping St James Lincolnshire PE6 8HD

Auditors

Moore Thompson Bank House Broad Street Spalding PE11 1TB

Bankers

Barclays Bank Plc Leicester LE87 2BB

DEEPING ST JAMES UNITED CHARITIES

Trustees' Annual Report

for the year ended 31st December 2024

The Board of Trustees have pleasure in submitting their annual report together with the audited financial statements of the Charity for the year ended 31 December 2024.

The Charities are regulated by a Scheme of the Charity Commissioners dated 14 July 1971 and subsequent additions, and operate from the Institute, 38 Church Street, Deeping St James, Lincolnshire. The Trustees held six main meetings during the year and a number of sub-committee meetings were also held together with special meetings for particular projects.

The Trustees are listed below.

----- Start of picture text -----
Name Means of appointment
Mr Graham Thompson Resigned May 2025
Mrs Carol Precey Resigned January 2025
Mr Steve Goodchild Co-opted
Mr Trevor Harwood Resigned January 2025
Mrs Kate Shinkins-Hoppe (Vice Chair) Deeping St James Parish Council appointee
Mrs Judy Stevens Co-opted
Mr Peter Ward Resigned January 2024
Dr Richard Gamman (Chair) Co-opted
Ms Emma Prissick Resigned May 2024
Revd Mark Williams Ex Officio
Mrs Emma Robinson Co-opted January 2025
Mrs Dawn Dent Co-opted January 2025
Mr Ian Anderson Co-opted January 2025
----- End of picture text -----

Objects

The objects of the Charity are to make grants to beneficiaries who reside within the Ecclesiastical Parish of Deeping St James and Frognall for:-

Trustees’ Responsibilities

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for the year then ended. In preparing those financial statements the trustees are required to;

The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Public Benefit

The Trustees consider that the objects and aims of the charity are all to the benefit of our community and as such we would suggest that the following would demonstrate our commitment to public benefit.

2

DEEPING ST JAMES UNITED CHARITIES

Trustees' Annual Report

for the year ended 31st December 2024

Aims and Objectives of the Trustees

The Trustees continue to support the sick and those on low incomes with grants and continue to extend the Charities’ involvement with organisations which regularly encounter those people, and to enhance provision for sports, arts, and recreational facilities, in the parish of Deeping St. James and Frognall. They also seek to invest effectively to provide a current income as well as to safeguard (and if possible, improve) the capital assets to maximise future income as is a requirement of the Charity Commission.

Achievements

We have continued to work with organisations which might refer potential beneficiaries to the Charities and which themselves provide help to our community.

The Trustees have funded Citizens Advice enabling referral of clients for assistance as part of a self-help package. These face to face and telephone sessions continue to be an asset for local residents in these challenging times in particular with debt advice and referring people to additional sources of help.

The Charities can refer clients to the local Foodbank, with whom we have formed a partnership and given the use of premises on a peppercorn rent , as it supports our aims and objectives.

Another organisation with which we have a strong relationship is The Men’s Group. Premises are supplied at nominal rent to the Men’s Group (charity No.1066992) which assists with equipment for those in need through illness and disability.

A small public garden owned on the riverbank is regularly maintained and used by the local community, for example, it is the starting point for two local parades.

The Trustees support families and children who reside in Deeping St James and Frognall through grants to the three schools in Deeping St James and two in Market Deeping. These grants are held by each school to be used for the benefit of pupils from lower-income families who are in need. Families of children from Deeping St James and Frognall educated outside of the local schools can apply directly to the Charities and we have made relevant schools aware of this.

A summary of some of the assistance given by way of grants, in the various heads of relief, is set out below.

Relief in need

We have helped through our school grants with the cost of school uniform, music lessons, counselling for pupils.

DSJUC also helped with the provision of replacement white goods, new household equipment, and assistance with day-to-day living costs for families on low incomes in crisis. We also gave a grant to allow a student who was a care leaver to travel to vocational training.

In addition, we have given a small number of grants equivalent in amount to book grants to older residents who are undertaking further education.

We have funded the local schools Music Programme.

Education

We have made grants to students studying for a first degree at University to assist with the purchase of books.

3

DEEPING ST JAMES UNITED CHARITIES

Trustees' Annual Report

for the year ended 31st December 2024

Relief in Sickness

Several parishioners have been helped with travel expenses to both local hospitals and to specialist units further afield when treatment has been needed. We covered a month’s rent for one family affected by sudden illness and paid for rails beside entry steps for a local resident.

We also made a grant to allow a disabled person to have a convalescent holiday with carers.

Public Purposes

Support is regularly given to a number of local community groups.

The Trustees have rented 43, Church Street to the Deepings Foodbank for a peppercorn rent of £1 plus the utility costs. In addition, the Scouts Canoe Club rents the outside building.

The Trustees also continue to allow the Institute to be used as a meeting place for various local groups, at no cost when it is available

We have also supported the Open Door Church with help towards the updating of its fire system, Priory Church with its heating pump and survey cost for its oak tree, Fun Day, Literary Festival, Benedict Court, Jimmy Ds, Willian Hildyard Primary School environmental area and Forest Garden.

Deeping St James United Charities owned part of the Cross School site for many years and acquired the balance by purchasing the half owned by Lincolnshire County Council in 2016. At the time. it was being used for a Pupil Referral unit during the daytime, and in the evenings by the Youth Group. The building and outbuildings were both in poor repair hence the Council’s willingness to divest itself of the buildings and grounds.

The development of the Cross School and its immediate surrounds was part of the Trustees’ strategy to refurbish a site in serious decline, located at the heart of the village; and to build a Community Hub to help us offer a range of facilities and better engage with the community we serve. Planning permission based on the designs of Jonathan Hendry, architect, was obtained for the site, which being in a conservation area, required a sympathetic design of a high quality which has been entered for an architectural award.

Phase one has included the demolition of a row of sheds, replacing them with a new building, comprising 4 multi-use office rooms built and fitted to a high specification to appeal to a variety of users and with ecological sustainability at its heart, from the wool insulation in the walls to the air source heat pump which powers it. This is reflected in the cost but makes the site sustainable for years to come,

The grounds have been landscaped and planted to provide an attractive community garden with extensive seating for visitors to the site and local residents to enjoy.

Part of the Phase 2 works was also undertaken with the construction of a spacious new entrance to the main building, built to the same high standard as the Studios. This was done to ensure the ground work to that side of the site was complete so that the pathways could be laid and left intact when Phase 2 is commenced.

During this time, the site continued to function with the dance school, fitness activities and Youth Group continuing to meet there.

This has been funded from accumulated unspent income that has been accrued over the years and has therefore not impacted on our ability to make donations to individuals and bodies who have requested them during the period of redevelopment.

The overall cost of completing Phase 1 and the new entrance element of Phase 2 of the development totalled £1,251,093.

On completion, the new building and upgraded main building were professionally revalued with a combined valuation of £618,750 being included in the financial statements. This equates to a £957,563 devaluation against the combined previous valuation and new build spend and was a significant use of the charity’s available funds for carrying out future charitable purposes. However, the trustees’ are of the opinion that this development will be of great value to the community that the charity serves for decades to come, regenerating commercial activity in this part of the village and helping secure, expand and sustain the use of the site, and thus falls within the charity’s overall objectives.

4

DEEPING ST JAMES UNITED CHARITIES

Trustees' Annual Report

for the year ended 31st December 2024

St Thomas’ Day

A total of £3,815 was distributed to 109 applicants

Reserves Policy

The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission. Commencing in 2009 the Trustees have ensured that all financial charges against the charity are paid before calculating the amount to be distributed in grants.

To safeguard our reserves and maximise our returns we have split our reserves three ways: - in property and land / in housing / in investments. The charity's investment assets are with CCLA and we are pleased to report that this has had a positive effect on our income. The Trustees formally review the charity's investment strategy each year.

The charity's income is mainly from investments and rents and the Trustees are committed by their constitution to spending their income on an annual basis whenever possible.

The budget available for distribution during the year is based on the balance of income left the previous year after property and administrative expenses were deducted. Any undistributed income left from the year’s budget is shown separately on the accounts and is available to meet any future commitments.

Future plans

The work on the first phase of the development the Cross School site is now complete and we are in the process of letting the office units. We are under taking a business review to update our constitution and develop a committee structure for decision making. We will be making plans to refurbish 43 Church Street.

Risk Management

Our Risk Register is subject to annual review by Trustees and this was undertaken in January 2024 as part of the budget setting process.

Contact Address

The Institute 38 Church Street Deeping St James Peterborough PE6 8HD Telephone: 01778 344707 Clerk: Ms J Banks, email: clerk@dsjunitedcharities.org.uk

The Trustees are required by law to report Serious Incidents to the Charity Commission and in 2024 no serious incidents occurred.

This report was approved by the Trustees on 16 July 2025 and signed by

Richard Gamman Trustee and Chair

Kate Shinkins-Hopppe Trustee and Vice Chair

5

DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Trustees of Deeping St James United Charities for the year ended 31st December 2024

Opinion

We have audited the financial statements of Deeping St James United Charities for the year ended 31 December 2024 which comprise the statement of financial activity, statement of financial position, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to

report to you where:

6

DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Trustees of Deeping St James United Charities

for the year ended 31st December 2024

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

7

DEEPING ST JAMES UNITED CHARITIES

Independent Auditor's Report to the Trustees of Deeping St James United Charities

for the year ended 31st December 2024

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in lines with our responsibilities, outlined above, to detect material mistatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material mistatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptability of the charity's financial statements to material mistatement, including obtaining an understanding of how fraud might occur, by;

To address the risk of fraud through management bias and override of controls, we:

Because of the inherent limitations of this audit, there is a risk that we will not detect all irregularities, including those leading to a material mistatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

8

DEEPING ST JAMES UNITED CHARITIES

Independent Auditor's Report to the Trustees of Deeping St James United Charities

for the year ended 31st December 2024

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Moore Thompson Chartered accountants & statutory auditors Bank House Broad Street Spalding PE11 1TB

Dated: 31 July 2025

9

DEEPING ST JAMES UNITED CHARITIES

Statement of Financial Activities

for the year ended 31st December 2024

----- Start of picture text -----
Unrestricted Endowment 2024 2023
Notes £ £ £ £
Incoming Resources
Investment income 2 11,041 257,516 268,557 276,156
Donations 580 - 580 911
Government grants 420 - 420 282
Total Incoming Resources 12,041 257,516 269,557 277,349
Resources Expended
Costs of generating funds -
Investment management costs 3 37,892 - 37,892 32,532
Charitable activities 3 75,912 - 75,912 107,090
Governance costs 3 16,235 - 16,235 12,660
Total Resources Expended 3 130,038 - 130,038 152,282
Net Incoming / (Outgoing) Resources Before Other
Recognised Gains (117,997) 257,516 139,519 125,067
Gains / (Losses) On Investment Assets (830,268) (107,947) (938,215) 82,633
Transfers 257,516 (257,516) - -
Net Movement In Funds (690,749) (107,947) (798,696) 207,700
Total Funds Brought Forward 1,111,834 7,279,933 8,391,767 8,184,067
Total Funds Carried Forward 421,085 7,171,986 7,593,071 8,391,767
----- End of picture text -----

All income and expenditure derives from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

10

DEEPING ST JAMES UNITED CHARITIES

Statement of Financial Position

as at 31st December 2024

----- Start of picture text -----
2024 2023
Notes £ £ £ £
Fixed Assets
Tangible fixed assets 7 352 81
Investments 8 7,512,485 7,631,945
7,512,837 7,632,026
Current Assets
Debtors 9 61,732 578,170
Cash at bank 10 51,547 199,537
113,279 777,707
Creditors:
Amounts falling due within one year 11 33,045 17,966
Net Current Assets 80,234 759,741
Net assets 7,593,071 8,391,767
Funds Of The Charity
Endowment Funds
Permanent Endowment 12 7,171,986 7,279,933
Unrestricted funds 12 421,085 1,111,834
7,593,071 8,391,767
- -
----- End of picture text -----

The financial statements were approved and authorised for issue by the Board on 16 July 2025

Signed on behalf of the board of trustees

Mr R Gamman Chair

Mrs K Shinkins-Hoppe Vice Chair

The notes on Pages 12 to 22 form part of these financial statements.

11

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

1. Summary of significant accounting policies

General information and basis of preparation

The address of the registered office is given in the charity information of these financial statements. The nature of the charity’s operations and principal activities are grant making and community support.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements are prepared on a going concern basis under the historic cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Unrestricted funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds

Comprise unrestricted funds available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds

Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.

Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

12

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets.

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Charitable activities include the costs of the activities defined by the Charity's aims for the benefit of the persons cited in the charity objects. Costs directly attributable to a project have been allocated to that project. Other non-allocatable costs such as salaried employees and other fixed nature overheads have been reallocated on the basis of the proportion of fees receivable on receipt of the related grant monies in the year.

Costs of raising funds includes Investment Management Costs that assist the charity to generate income from Investments.

Governance costs include the costs which relate to the general running of the charity as opposed to the direct management function inherent in generating funds, service delivery and program or project work.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs adminstrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on the basis consistent with use of resources.

The analysis of these costs is included in note 3.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Office equipment 20% Straight line

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in 'net gains/(losses) on investments' in the SoFA.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

13

DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements

for the year ended 31st December 2024

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

14

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

2. Income From Investments

Income From Investments
Investment Properties
Other Investments
- COIF deposit account (Endowment)
- COIF deposit account (Unrestricted)
- Virgin charity deposit account (Unrestricted)
- Other interest and dividends (Unrestricted)
Investments listed on a recognised stock exchange,
held in common investment funds or other collective
investment schemes		 2024
£
68,511
183,397
5,608
10,074
-
967
268,557		 2023
£
68,042
189,002
7,802
10,225
93
992
276,156

Income from investment was £268,557 (2023 - £276,156) of which £257,516 (2023 - £264,846) was attributable to endowments, £nil (2023 - £nil) was attributable to restricted and £11,041 (2023 - £11,310) was attributable to unrestricted funds. Investment income is then transferred from the Endowment Fund to the Unrestricted Fund as seen on the Statement of Financial Activities.

Income From Donations and Legacies
Donations		 2024
£
580
580		 2023
£
911
911

Income from donations and legacies was £580 (2023 - £911) of which £nil (2023 - £nil) was attributable to endowments, £nil (2023 - £nil) was attributable to restricted and £580 (2023 - £911) was attributable to unrestricted funds.

Income From Government Grants
Employment Allowance		 2024
£
420
420		 2023
£
282
282

Income from Government grants was £420 (2023 - £282) of which £nil (2023 - £nil) was attributable to endowments, £nil (2023 - £nil) was attributable to restricted and £420 (2023 - £282) was attributable to unrestricted funds.

3. Resources Expended

Property
Rates and council tax
Insurance
Repairs
Electricity and gas
Letting agency fees		 Investment
Management
Costs
£
89
5,443
10,755
1,466
6,049
23,802		 Charitable
Activities
£
89
5,443
10,756
1,466
-
17,754		 Governance
Costs
£
-
-
-
-
-
-		 2024
£
178
10,886
21,511
2,932
6,049
41,555		 2023
£
168
9,402
16,880
750
5,438
32,638

15

DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements

for the year ended 31st December 2024

Administration
Clerk's salary
Caretaker's salary and casual
wages
Legal and professional fees
Bookkeeping and Accountant's
fees
Miscellaneous expenses
Depreciation - office equipment
Charitable Activities
Relief in Need
Relief in Sickness
Public Purposes
Educational Foundation
St Thomas' Day Charity		 5,941
1,022
5,112
-
1,971
44
14,090
-
-
-
-
-
-
37,892		 5,941
1,022
-
-
1,971
44
8,978
14,929
-
3,950
26,766
3,535
49,180
75,912		 -
-
-
16,235
-
-
16,235
-
-
-
-
-
-
16,235		 11,882
2,044
5,112
16,235
3,942
88
39,303
14,929
-
3,950
26,766
3,535
49,180
130,038		 11,336
1,960
5,259
12,660
3,132
40
34,387
51,849
1,640
(319)
28,167
3,920
85,257
152,282

£nil (2023 - £nil) of the above costs were attributable to endowment funds. £nil (2023 - £nil) of the above costs were attributable to restricted funds. £126,644 (2023 - £152,282) of the above costs were attributable to unrestricted funds.

Net Income for the year

This is stated after charging.

This is stated after charging.
Depreciation
Gains / (Losses) On Investment Assets		 2024
£
88
(938,215)
(938,127)		 2023
£
40
82,633
82,673

4. Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2023: £nil).

The total amount of employee benefits received by key management personnel is £nil (2023: £nil).

The reimbursement of trustees expenses was as follows:

Charitable Purposes
Miscellaneous Expenses		 2024
Number
-
1		 2023
Number
2
1		 2024
£
-
42		 2023
£
746
805

Included in the above are £nil (2023: £nil) which have been paid directly to third parties.

No (2023 - none) trustees are accruing pension arrangements.

16

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

Auditor's/Independent Examiner's Remuneration
Fees payable to the charity's auditor for the audit of the charity's
annual accounts
Fees payable to the charity's auditor for other services:
Year end accounts preparation
Advice work
Bookkeeping
Total fees		 2024
£
7,170
3,125
-
5,940
9,065
16,235		 2023
£
3,775
2,945
-
5,940
8,885
12,660

5. Auditor's/Independent Examiner's Remuneration

6. Staff Costs and Employee Benefits

The average monthly number of employees and full time equivalent (FTE) during the year was as follows:

Raising funds
Charitable activities
Governance
Total staff costs and employee benefit's was as follows:
Wages and salaries		 2024
Number
1
1
-
2		 2024
FTE
1
1
-
2		 2023
Number
1
1
-
2
2024
Total
£
13,926
13,926		 2023
FTE
1
1
-
2
2023
Total
£
13,296
13,296

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

7. Tangible Fixed Assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 2024
2023
£
£
1,148
1,148
358
-
1,506
1,148
1,067
1,027
87
40
1,154
1,067
352
81
81
121
Office Equipment

17

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

8. Investment Assets

8.1 Fixed Asset Investments
Market value at beginning of the year
Additions / disposals
(Deficit) / Surplus on revaluation
Market value at end of year
8.2 Analysis Of Investments
Market Value At Year End
Investment properties
Other Investments
- COIF deposit account
- Virgin charity deposit account (Closed March 2023)
Investments listed on a recognised stock exchange,
held in common investment funds or other collective
investment schemes		 2024
£
7,018,932
1,251,093
(938,215)
7,331,810
2024
£
2,845,250
4,486,560
7,331,810
180,675
-
7,512,485		 2023
£
7,549,305
(613,006)
82,633
7,018,932
2023
£
2,605,000
4,413,932
7,018,932
613,013
-
7,631,945

Investments which are over 5% of the portfolio by market value at 31 December 2024 are;

COIF Charities Property Fund Income Units £2,321,445 (2023: £2,140,927)

COIF Charities Ethical Investment Fund Income Units £2,151,181 (2023: £2,259,441)

9.
Debtors
Prepayments
Accrued Income
10. Cash At Bank
Current Account
Business Premium Account
Business Premium ME Account
11. Creditors - Amounts Falling Due Within One Year
Trade Creditors
Retention Payable
Accruals and Deferred Income		 2024
£
15,705
46,027
61,732
2024
£
45,913
745
4,889
51,547
2024
£
697
25,178
7,170
33,045		 2023
£
530,854
47,316
578,170
2023
£
41,395
150,877
7,265
199,537
2023
£
733
13,458
3,775
17,966

18

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

12. Analysis Of Charitable Funds

Balance at 1 January 2024
Income
Expenditure
Gain / (Loss) on Investments
Transfers
Balance at 31 December 2024		 Endowment
Funds
2024
£
7,279,933
257,516
-
(107,947)
(257,516)
7,171,986		 Unrestricted
Funds
2024
£
1,111,834
12,041
(130,038)
(830,268)
257,516
421,085		 Total
2024
£
8,391,767
269,557
(130,038)
(938,215)
-
7,593,071

Of the unrestricted reserves £nil (2023: £534,565) have been designated for the redevelopment of the Cross School Site.

13. Analysis Of Net Assets Between Funds

Tangible fixed assets
Fixed asset investments
Investment Properties
Listed Investments
Other Investments
Current assets
Creditors: amounts falling due
within one year
Tangible fixed assets
Fixed asset investments
Current assets
Creditors: amounts falling due
within one year		 Relief in Need
Public Purpose
Relief in
Fund
Fund
Sickness Fund
£
£
£
-
-
-
1,099,250
1,099,250
49,688
2,250,180
2,236,380
-
-
-
180,675
-
-
-
-
-
-
3,349,430
3,335,630
230,363
Endowment
Fund
2024
£
-
7,171,986
-
-
7,171,986		 Education
Fund
£
-
256,563
-
-
-
-
256,563
Unrestricted
Fund
2024
£
352
340,499
113,279
(33,045)
421,085		 Endowment
Fund
£
-
-
2,504,751
4,486,560
180,675
-
-
7,171,986
2024
£
352
7,512,485
113,279
(33,045)
7,593,071
Total

The Deeping St James United Charities was formed by the Scheme of the Charity Commissioners dated 14 July 1971 by combining the following charities:

The United Charities (constitued by the Scheme of 11 December 1908):

  1. The charity of Elizabeth Allam

  2. The charity of Thomas Bunning

  3. The charity of Joanna Royal (otherwise Boyal)

  4. The charity of Robert Sharpe

  5. The charity of Samual Sharpe

  6. The charity of William Streton

  7. The charity of William Swan

  8. The charity of Robert Tyghe (exclusive of the charity called the Tyghe Prizes and the charity called the Tyghe Schools)

  9. The charity of Susannah Brewton

  10. The charity of John Perkins

  11. Tyghe Prizes

  12. Tyghe Schools

19

DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements for the year ended 31st December 2024

Pages 21 to 22 also form part of these financial statements

and show the comparative 2023 figures.

20

DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements

for the year ended 31st December 2024

14. Fund Comparatives

Statement of Financial Activities

Incoming Resources
Investment income
Donations
Government grants
Total Incoming Resources
Resources Expended
Costs of generating funds -
Investment management costs
Charitable activities
Governance costs
Total Resources Expended
Net Incoming / (Outgoing) Resources Before Other
Recognised Gains
(Losses) / Gains On Investment Assets
Transfers
Net Movement In Funds
Total Funds Brought Forward
Total Funds Carried Forward		 Unrestricted
£
11,310
911
282
12,503
32,532
107,090
12,660
152,282
(139,779)
12,558
264,846
137,625
974,209
1,111,834		 Endowment
£
264,846
-
-
264,846
-
-
-
-
264,846
70,075
(264,846)
70,075
7,209,858
7,279,933		 2023
£
276,156
911
282
277,349
32,532
107,090
12,660
152,282
125,067
82,633
-
207,700
8,184,067
8,391,767

21

DEEPING ST JAMES UNITED CHARITIES

Notes to the Financial Statements

for the year ended 31st December 2024

15. Fund Comparatives Continued

Analysis Of Charitable Funds
Balance at 1 January 2023
Income
Expenditure
Gain / (Loss) on Investments
Transfers
Balance at 31 December 2023
Analysis Of Net Assets Between Funds
Tangible fixed assets
Fixed asset investments
Current assets
Creditors: amounts falling due within one year		 Unrestricted
Funds
2023
£
974,209
12,503
(152,282)
12,558
264,846
1,111,834
Unrestricted
Fund
2023
£
-
7,279,933
-
-
7,279,933		 Endowment
Funds
2023
£
7,209,858
264,846
-
70,075
(264,846)
7,279,933
Endowment
Fund
2023
£
81
352,012
777,707
(17,966)
1,111,834		 Total
2023
£
8,184,067
277,349
(152,282)
82,633
-
8,391,767
2023
£
81
7,631,945
777,707
(17,966)
8,391,767
Total

22